113
113
Nov 26, 2013
11/13
by
KICU
tv
eye 113
favorite 0
quote 0
the company is also replacing its chief financial officer.john chen, th former ceo of sybase, was brought in as an interim ceo but these moves are seen as a prelude to him staying in the top spot. fiat is putting the brakes on an ipo for chrysler this year. fiat - the majority stakeholder in chrysler -- says the determination was made after chrysler's board spoke with the company's underwriters. the ipo process will reportedly go forward in the first quarter of 20-14, but fiat said in a statement that no assurance can be given that an offfering will be launched. the oil market is rattled by the groundbreaking agreement aimed at holding iran's nuclear program in check. phil flynn with price futures group and a fox business news contributor joins us now. always good to see your face on our show. what's happening with these tumbling prices? > >there was a celebration immediately. iran's oil back on the global market! and of course the markets reacted as you might expect. a major selloff in the global oil market. but it's too bad that we can't solve all the world's problems that easily and wh
the company is also replacing its chief financial officer.john chen, th former ceo of sybase, was brought in as an interim ceo but these moves are seen as a prelude to him staying in the top spot. fiat is putting the brakes on an ipo for chrysler this year. fiat - the majority stakeholder in chrysler -- says the determination was made after chrysler's board spoke with the company's underwriters. the ipo process will reportedly go forward in the first quarter of 20-14, but fiat said in a...
14
14
tv
eye 14
favorite 0
quote 0
together with the possible radioactive pitfalls if it fails also online there's been an embarrassing sybase thing in singapore with the anonymous activist group behind since the prime minister's website and day off day he promised to hunt down anyone trying to infiltrate the state's information the details. and head of its space for science to date get up to speed with the olympic torch is incredible relay safe and find out where it's heading next it's in the follow the flying section at our. great britain has won the known to flattering title of king of the world's tax havens a new report says the u.k.'s overseas territories make up much of the world's secret offshore banking industry and aside from making promises london hasn't done much of it breaks down the report for us. the u.k. government has been bashing tax avoidance for months in fact prime minister david cameron made increasing tax transparency a key issue at the g eight summit that he hosted earlier this year but despite all the efforts according to a group cruelties of the tax justice network britain is the world's worst offend
together with the possible radioactive pitfalls if it fails also online there's been an embarrassing sybase thing in singapore with the anonymous activist group behind since the prime minister's website and day off day he promised to hunt down anyone trying to infiltrate the state's information the details. and head of its space for science to date get up to speed with the olympic torch is incredible relay safe and find out where it's heading next it's in the follow the flying section at our....
265
265
tv
eye 265
favorite 0
quote 0
>> he ran sybase before bought by sap. that company was a mess. he has bonafide credentials turning it around so he is a turn around guy. he wants to run the company as is, keep the handset division. melissa: dennis what do you think? you follow this religiously. >> spencer, i bet he is running the thing to sell it. melissa: that's okay. >> in came bidders, they didn't like it. they couldn't get high enough price. melissa: due diligence was really badly. >> raised to 4.7 billion. someone will buy the company and get it as good as it can, go out for $3 billion instead of 5 billion. melissa: does it ultimately survive? two years from now, does somebody have blackberries. >> a trinket on somebody's charm bracelet but i don't think it will survive. >> fairfax is making a bet it will survive. they contribute the equity and find some other guys and couldn't find enough people to get the 4.7 billion together. what they have is convertible debenture that is convert at $10 a share. their bid was nine. these convert at 10. >> stock is at seven. >> saying he
>> he ran sybase before bought by sap. that company was a mess. he has bonafide credentials turning it around so he is a turn around guy. he wants to run the company as is, keep the handset division. melissa: dennis what do you think? you follow this religiously. >> spencer, i bet he is running the thing to sell it. melissa: that's okay. >> in came bidders, they didn't like it. they couldn't get high enough price. melissa: due diligence was really badly. >> raised to 4.7...
150
150
Nov 4, 2013
11/13
by
CNBC
tv
eye 150
favorite 0
quote 0
he ended up selling sybase a computer data base maker to sap and he is a man that has a lot going for him and on the board of the walt disney company and wells fargo. a man who's well connected, knows the tech space and how to turn things around maybe that's the reason why he's the guy that they're tapping. >> what worries me is what this says about the company, because i mean this guy thor ston had strong economic incentives to do something. if he would have sold the company and dismissed the contract would have been worth $56 million. if not sold it and fired which is what happened the contract was worth a fraction of that. he had an incentive to do something. the fact he couldn't sell the company with that kind of economic incentive is not a good sign. >> you seem to be suggesting that mr. chen is very adroit at turning around companies and preparing them for sale. is that what you think the ultimate outcome is? >> the outcome will have to be something like bob said with regard to selling the whole company or seems more likely bits and pieces of it for as much as they can. >>> turn
he ended up selling sybase a computer data base maker to sap and he is a man that has a lot going for him and on the board of the walt disney company and wells fargo. a man who's well connected, knows the tech space and how to turn things around maybe that's the reason why he's the guy that they're tapping. >> what worries me is what this says about the company, because i mean this guy thor ston had strong economic incentives to do something. if he would have sold the company and...
147
147
tv
eye 147
favorite 0
quote 1
you remember that, so what's happening now, instead, ceo was ousted and they bring in the former sybase ceo and fairfax will invest money into the company and see if they can turn themselves around. this is really going to be a big turn around if they turn it around. stuart: that's the story, nicole, thanks indeed. liz, carry this through for us. where are we going with blackberry? >> listen, they need a new leadership team, entirely new leadership team. they have a great secure system, good patents on a good secure system and people in the government use a the lo of the blackberry system so they have that still going for it. stuart: but they're milking their installed base, aren't they? i don't know how many million blackberries are out there in use, but somebody's paying money to use them. that's a cash cow. i mean, surely, the value of the company is a computation of how much money they're going to bring in in the future, like a utility, almost. >> yeah, that's right. they have to put themselves up for sale and i know the buyers are still leery right now. and that's the future for bl
you remember that, so what's happening now, instead, ceo was ousted and they bring in the former sybase ceo and fairfax will invest money into the company and see if they can turn themselves around. this is really going to be a big turn around if they turn it around. stuart: that's the story, nicole, thanks indeed. liz, carry this through for us. where are we going with blackberry? >> listen, they need a new leadership team, entirely new leadership team. they have a great secure system,...
146
146
tv
eye 146
favorite 0
quote 0
chen was previously credited with turning around sybase in the 90's before it was sold to s&p in 2010. >> nicole petallides is on the floor of nyse. we're all asking and we know what it happening with twitter today. what have you got for us? >> watching twitter, it is a $26 ipo of the had a wide range yesterday. went up to 50 bucks and down to 44 and closed a little bit higher. now it is pulling back some from yesterday's huge gains. however that being said the analysts seeing mixed, some putting sell ratings and thinking it is overvalued on anything above 40 bucks. so at 42.80 they still think it is too much. the other thing we're taking a look at is market cap. it is ranking pretty high in market cap. it would actually rate ahead of aetna, delta and kellogg if 2 were to stay at 44.90 range. it pulled back a little bit. it shows you, really came on the block. is it really that big? quick peek here at groupon. groupon coming out with their numbers. wider loss. sales that were below. they are working on a new website. up 7.7% for groupon. >> nicole petallides, thank you. >> thanks. lor
chen was previously credited with turning around sybase in the 90's before it was sold to s&p in 2010. >> nicole petallides is on the floor of nyse. we're all asking and we know what it happening with twitter today. what have you got for us? >> watching twitter, it is a $26 ipo of the had a wide range yesterday. went up to 50 bucks and down to 44 and closed a little bit higher. now it is pulling back some from yesterday's huge gains. however that being said the analysts seeing...
166
166
Nov 4, 2013
11/13
by
CNBC
tv
eye 166
favorite 0
quote 0
he is someone that turned around sybase. you talk to people that know that company. i don't know the file that well but people i trust told me that. it's an enterprise company. that will do something about where blackberry is going. they need to decide what to do with the handset business. >> boyd, what about thorsten heins. prem watson renewed his contract in the spring. we believe he has a $33 million payout if the firm is acquired or if he is fired. is that payout about to be triggered? >> i couldn't honestly tell you at the moment. maybe we will know that by day's end. it hasn't been a top of the list thing to find out. we'll see what happens. it could end up being that he had some of the right ideas. i don't think you can bring the turn-around guy. if it ends up being $32 million to pay it out, that will be an expensive bump in the road for blackberry. if you look at it on the other side, if this works out for fairfax and the stock goes to 15, i don't think people will worry too much about that. >> finally, boyd, any idea whatever happened with serberus or qualc
he is someone that turned around sybase. you talk to people that know that company. i don't know the file that well but people i trust told me that. it's an enterprise company. that will do something about where blackberry is going. they need to decide what to do with the handset business. >> boyd, what about thorsten heins. prem watson renewed his contract in the spring. we believe he has a $33 million payout if the firm is acquired or if he is fired. is that payout about to be...
364
364
Nov 8, 2013
11/13
by
CNBC
tv
eye 364
favorite 0
quote 1
john chen is credited with turning around sybase in the late 1990s. his shares only begin to vest after three years with the company. and the majority of those will vest an he completes his fifth year with the company. if he's fired without cause, he will be paid up to $6 million. and given that becky still has her blackberry, i think that's a good incentive to keep hers on for a while. >>> salix pharma will buy santarus for the $2.6 million. joe, over to you, sir. >>> let's start with twitter. the first day of trading on the nyse drove the company's market value to around $25 billion. forget what the multiples of revenue is. i think it's like 50 or something. the stock closed at 44.90 after hitting a session high of $50, nearly doubled the ipo price of $26. and we're obviously going to talk about this today. it was very orderly. beautifully done. commend near hour in the new york stock exchange. here's my problem. the big guys, once again, got all the profits. the institutions. it's weird how facebook, you would have thought, worked better for the li
john chen is credited with turning around sybase in the late 1990s. his shares only begin to vest after three years with the company. and the majority of those will vest an he completes his fifth year with the company. if he's fired without cause, he will be paid up to $6 million. and given that becky still has her blackberry, i think that's a good incentive to keep hers on for a while. >>> salix pharma will buy santarus for the $2.6 million. joe, over to you, sir. >>> let's...